Sumitomo Life Insurance Co. Has $1.04 Million Holdings in AT&T Inc. (NYSE:T)

Sumitomo Life Insurance Co. decreased its holdings in AT&T Inc. (NYSE:T) by 4.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 62,140 shares of the technology company’s stock after selling 3,199 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in AT&T were worth $1,043,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Carmel Capital Partners LLC raised its position in shares of AT&T by 16,250.0% in the 3rd quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock valued at $25,000 after acquiring an additional 1,625 shares during the period. Lipe & Dalton bought a new position in AT&T during the third quarter worth $30,000. Ramirez Asset Management Inc. bought a new position in AT&T during the third quarter worth $30,000. FWL Investment Management LLC bought a new position in AT&T during the fourth quarter worth $31,000. Finally, Financial Freedom LLC acquired a new stake in shares of AT&T during the fourth quarter worth $34,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. JPMorgan Chase & Co. raised AT&T from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $18.00 to $21.00 in a research note on Thursday, February 1st. Barclays boosted their price target on AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 31st. StockNews.com cut AT&T from a “buy” rating to a “hold” rating in a report on Thursday, April 4th. Tigress Financial increased their target price on shares of AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Finally, Oppenheimer raised shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 target price for the company in a research report on Friday, January 19th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.68.

AT&T Trading Down 0.4 %

Shares of NYSE:T opened at $16.25 on Tuesday. The company has a market cap of $116.20 billion, a P/E ratio of 8.29, a PEG ratio of 2.46 and a beta of 0.57. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.71 and a quick ratio of 0.67. AT&T Inc. has a 1 year low of $13.43 and a 1 year high of $19.92. The stock’s fifty day moving average price is $17.07 and its 200-day moving average price is $16.48.

AT&T (NYSE:T) last posted its earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). The firm had revenue of $32 billion during the quarter, compared to the consensus estimate of $31.44 billion. AT&T had a net margin of 11.76% and a return on equity of 15.39%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.61 EPS. Sell-side analysts expect that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 6.83%. The ex-dividend date is Tuesday, April 9th. AT&T’s dividend payout ratio is presently 56.63%.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.